Iran said it would halt attacks on neighbouring Gulf states and apologised for recent strikes on the region, even as missile and drone attacks continued to be reported hours later, underlining the fragile security situation as the war with Israel entered its second week.
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One week after the United States and Israel launched military strikes on Iran, plunging the Middle East into turmoil, President Donald Trump faces mounting questions over whether early battlefield gains can translate into a durable geopolitical victory, say experts.
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Dubai-based Emirates airline has said it anticipated a return to 100% of its network within the coming days, subject to airspace availability, while Abu Dhabi-based Etihad Airways said it has restarted a limited commercial flight schedule on Friday (March 6).
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The United Arab Emirates and Japan have agreed on the final provisions of a Comprehensive Economic Partnership Agreement (CEPA), the first of its kind for Japan with an Arab country.
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The future of the Saudi heavy construction equipment market appears promising, driven by ongoing government initiatives and urbanisation trends. Under its Vision 2030 initiative, the kingdom aims to invest over $500 billion in mega housing and urban development projects, thus driving demand for advanced machinery, said a report.
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UAE-based 2PointZero Group, a next-generation investment powerhouse focused on energy and consumer sectors, has acquired a majority stake in ISEM, a major European packaging group with interests in beauty, fashion, luxury and nutraceuticals, for AED704 million ($192 million).
A hotel and two residential buildings in Bahrain's capital Manama sustained material damage following an Iranian attack late last night, according to the Ministry of Interior.
The foreign ministers of the Gulf countries and the European Union (EU) strongly condemned the unjustified Iranian attacks targeting GCC states, considering them a direct threat to regional and global security. In a joint statement issued after an extraordinary meeting, the ministers called on Iran to immediately halt its attacks.
Attacks on commercial shipping in the Gulf intensified on Thursday as the war between the US and Iran escalated, raising concerns about disruptions to energy supplies from one of the world’s most critical oil transit routes. Nine vessels have come under attack since the conflict broke out on Saturday.
A fire broke out at a unit of the BAPCO Energies refinery in Bahrain following an Iranian missile strike, a Bahrain news Agency report said.
Dubai-based Emirates and flydubai have said with the limited re‑opening of airspace, the airlines are operating a reduced flight schedule from Dubai until further notice.
Saudi Logistics Services Company has announced the signing of a sale and purchase agreement with Aviapartner Belgium NV and Aviapartner Holding NV for the acquisition of 100% stake in Belgium airport ground handling firm Aviapartner Liege for SAR123 million ($32.8 million).
A luxury apartment in Dubai has been sold off-plan for AED422 million ($114.91 million), and the deal has been hailed as powerful sign of confidence in the city’s real estate market, and security in the UAE.
The UAE banking and financial sector is resilient, strong, stable, and well-positioned to navigate regional developments, said Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates.
KEY - The Energy Transition Expo, the Italian Exhibition Group's event of reference in Europe, Africa and Mediterranean basin on energy transition, ended on a successful note after three days of great exhibits, meetings, discussions and dialogues to map the new direction of the global energy future.
Considering the ongoing aggression by Iran against Kuwait, including threats against the safe passage of ships through the Strait of Hormuz, Kuwait Petroleum Corporation (KPC) has implemented a precautionary reduction in crude oil production and refining throughput.
Qatar Airways has announced the partial resumption of its repatriation flights from its capital Doha through designated contingency routes with limited operational capacity to London, Paris, Madrid, Rome and Frankfurt. These include a limited number of flights designated for passenger evacuation and for cargo operations.
The Saudi Ports Authority (Mawani) has announced the addition of two new shipping services - Maersk’s new AE19 and Hapag-Lloyd’s SE4 - to the Jeddah port. This service, utilising vessels capable of carrying upto 17,000 TEUs, links the major Saudi port to primary Asian hubs such as China, Korea and Malaysia.
One week after the United States and Israel launched military strikes on Iran, plunging the Middle East into turmoil, President Donald Trump faces mounting questions over whether early battlefield gains can translate into a durable geopolitical victory, say experts.
UAE-based Imtiaz Developments said it has achieved a key milestone by becoming the first developer in Dubai to complete and hand over a signature residential project at Dubai Islands. This feat was made possible with the successful delivery of Beach Walk by Imtiaz.
PureHealth, the largest healthcare group in the Middle East, and Yellow Door Energy, the leading sustainable energy partner for businesses in the Middle East and South Africa, have signed a master lease agreement to bring clean electricity to its network of hospitals and clinics in the UAE.
Dubai-based Union Properties has sealed a membership agreement with the Massachusetts Institute of Technology (MIT) through its globally recognised Industrial Liaison Programme in a move aimed at developing future-oriented models to help accelerate technology-led transformation in real estate.
UAE-based 2PointZero Group, a next-generation investment powerhouse focused on energy and consumer sectors, has acquired a majority stake in ISEM, a major European packaging group with interests in beauty, fashion, luxury and nutraceuticals, for AED704 million ($192 million).
Global markets are set to close the first week of March under the growing influence of geopolitical risk stemming from the Middle East conflict. One of the most visible market responses has been the sharp appreciation of the US Dollar which climbed to a three-month high, said an expert.
Zoho Corporation, a global technology company, marked its 30th anniversary on Thursday with the announcement that it is now a trusted technology provider to more than one million paying customers and more than 150 million users globally.
New Murabba Development Company, a wholly-owned subsidiary of Saudi Arabia's sovereign wealth fund PIF, has signed a strategic agreement with Electric Vehicle Infrastructure Company (Eviq) for deployment of EV charging infrastructure across key assets within its giga project - New Murabba.
Saudi Arabia’s air defences today (March 7) stopped a new wave of airstrikes, this time targeting Aramco’s Shaybah field, one of the kingdom's most vital 'super-giant' fields, said a report, citing the kingdom's ministry of defence.
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan affirmed that all is well in the UAE and that the country will remain strong thanks to the solidarity of its society and the efficiency of its military and civil institutions.
